Wednesday, December 16, 2009
Bernanke Time Magazine Person Of The Year
He got the Nobel Peace Prize and speculation was running that President Obama would also be named Time Magazine's Person of the Year. But that was not to be. Instead, the editors - correctly noting that the weak economy was the story of the year - selected Federal Reserve Chairman Ben Bernanke.
Their feeling was this. Things were bad. But they could have been worse. They weren't - they say - thanks to Bernanke.
In a year when many who run financial institutions are taking a decidedly low profile (Goldman Sachs told its employees to not celebrate the holidays in large numbers because of a public backlash) - Time has annointed Bernanke "the good banker."